JPMorgan Chase & Co. Reiterates “Overweight” Rating for Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “overweight” rating reissued by JPMorgan Chase & Co. in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $20.00 price target on the bank’s stock, up from their prior price target of $18.50. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.99% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Evercore ISI lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler lifted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, DA Davidson lifted their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.24.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.70 on Wednesday. The business’s 50-day moving average is $16.24 and its two-hundred day moving average is $14.68. The company has a market capitalization of $25.71 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a fifty-two week low of $11.68 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $0.36 EPS. Research analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Asset Dedication LLC boosted its stake in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares during the third quarter valued at about $32,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.